Global Hemp-based Food Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028
“Global Hemp-based Food Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global hemp-based food market report has been segmented as per product type, sales channel, and region.
Global Hemp-based Food Market: Overview
Hemp-based food products are very popular across the globe because hemp is a good source of vitamins, minerals, and fiber including vitamin E, magnesium, iron, and zinc. The various types of hemp-based food such as hemp oil-based foods, hemp protein-based foods, and hemp seed-based foods easily available in the market. In addition, the hemp-based food products are most preferable among individuals because it is easy to digest and free from allergens, gluten, lactose, genetically modified organisms, pesticides, and phytoestrogen.
Global Hemp-based Food Market: Dynamics
Expanding food sector across the globe and rising demand for organic hemp-based food products among individuals are major factors projected to drive growth of the global hemp-based food market during the forecast period. In addition, rising cases of the celiac disease and an increasing number of vegan populations across the globe resulting in the growing demand for hemp-based food in developed and developing countries. These are other factors projected to fuel growth of the target market.
Increasing health consciousness among individuals and the rising popularity of a variety of hemp-based food products across the globe are other factors anticipated to propel growth of the global market. In addition, increasing consumption of hemp oil-based foods, hemp seed-based foods, and protein-based foods across the globe and growing awareness about various benefits of hemp-based food such as the good source of vitamins, fiber, mineral, and easy to digest. This results in increasing demand for target product across the globe and expected to boost growth of the global market.
Furthermore, increasing hemp-based food products quality, variety, advancement, and rising number of promotional activities through several media channels including radio, newspaper, social media, and others by major hemp-based food manufacturers. These are other factors expected to proliferate growth of the target market in the upcoming years.
However, the high price associated with hemp-based food products is a key factor projected to restraint growth of the global hemp-based food market.
Global Hemp-based Food Market: Segment Analysis
Increasing consumption of hemp seed-based food product across the globe due to various benefits associated with it such as easy digestion, presence of high levels of essential fatty acids, proteins, and other is the primary factor driving revenue growth of the hemp seed-based foods among the product type segments.
Global Hemp-based Food Market: Region Analysis
The North America hemp-based food market accounted for the highest revenue share and is projected to dominate the target market during the forecast period. High health concern among individuals, high preference for organic food products, and high consumption of hemp-based food products including pretzels, granola bars, cereals, and others in the countries such as US and Canada in this region. Market in the Asia Pacific is anticipated to witness growth in the global market followed by maker in Europe, owing to rising inclination towards the hemp-based foods due to gluten-free, and other properties associated with it and high adoption of western food habits in the countries such as China, India, Germany, UK, Italy, and France in these regions. In addition, high popularity of a variety of hemp-based food products among individuals in the countries such as Mexico, Israel, Brazil, and South Africa in the Middle East & Africa and Latin America regions.
Global Hemp-based Food Market Segmentation:
Segmentation by Product Type:
- Hemp Protein-based foods
- Hemp Oil-based foods
- Hemp Seed-based foods
Segmentation by Sales Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- The Hemp Corporation Pty Ltd.
- Fresh Hemp Foods Ltd
- Laguna Blends Inc.
- Compass Diversified Holdings LLC
- Naturally Hemp, LLC
- Vitahemp Pty Ltd
- Nutiva, Inc.
- Canopy Growth Corporation
- Naturally Splendid Enterprises Ltd.
- HempAmericana, Inc.
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